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As long as it is converted to mother shares, we can hold as long as we like. Right?
Pinnacle, could you kindly advise how the rights work? Does it mean that we will be given 1 share with 3 shares we are holding and we will only pay S$0.25 cents for it and we can sell it when the shares price go up? Is there any time frame we can hold on to the "rights" shares that we bought? Tks in advance.
Yah it's quite disappointing. The news came 6 months late and the shares didn't really recover. Look at Lian Beng it is now way ahead of CES also....
Thanks Pinnacle,
I am not familiar with warrants and dare not vest when they issue warrants.....
thanks again.
Yes. Each Warrant carrying the right to subscribe for one (1) new ordinary share in the capital of the Company ("New Share") at an exercise price of S$0.25 for each New Share (the "Exercise Price").
Hi, anyone know whether the warrants can be converted to mother shares?
Thanks...
SINGAPORE, Nov 7 (Reuters) - Shares of construction firm Yongnam Holdings (YNAM.SI: Quote, Profile , Research) rose as much as 6.7 percent to S$0.40 with 17.6 million shares traded after the firm announced contract wins worth S$90 million.
Yongnam said in a statement that it had won infrastructure and building development contracts from three high-profile Singapore projects. [ID:nSNB681641]
All along, everyone is waiting for YN to announce the IR contract.
YN gave more than just IR contact, but the price is not reflecting the anticipation.
Or maybe $90M contracts are still not enough?
Hold it, 10 vs 3 warrants is worth to hold it. Patient ah!
Yongnam Holdings rises on contract wins
SINGAPORE, Nov 7 (Reuters) - Shares of construction firm Yongnam Holdings
Yongnam said in a statement that it had won infrastructure and building development contracts from three high-profile Singapore projects. [ID:nSNB681641] 0133 GMT- Straits Times Index <.STI> up 0.80 percent.
SINGAPORE, Nov 7 (Reuters) - Shares of construction firm Yongnam Holdings
Yongnam said in a statement that it had won infrastructure and building development contracts from three high-profile Singapore projects. [ID:nSNB681641] 0133 GMT- Straits Times Index <.STI> up 0.80 percent.
Wondering if is it ppl dunno YN win the contract. So many queuing to sell.... I also queued until I see this posting... immediately withdraw.
depend on how US marke tonight loh.... this YN has been quiet for quite sometime... hope that tomorrow it will move north....
At last, time for Ah Nan to CHEONG!!! 
WINS S$90 MILLION CONTRACTS FOR PRESTIGIOUS MARINA BAY SANDS INTEGRATED RESORT, FORMULA ONE, AND ORCHARD TURN PROJECTS
- Clinched two contracts for projects at Marina Bay Sands Integrated Resort
- Awarded structural steelworks contracts for
o Recreation cum commercial complex for inaugural Formula One event; and
o Orchard Turn shopping mall and multi-storey car park
Singapore, November 6, 2007 ? Yongnam Holdings Limited (?Yongnam? or the ?Group?), a well-established structural steel fabricator and specialist engineering solutions provider, announced that it has been awarded S$90 million in new contracts for three prestigious infrastructural and building developments in Singapore ? the Marina Bay Sands Integrated Resort (?IR?), Formula One (?F1?) track and the Orchard Turn development project.
Said Mr Seow Soon Yong, Chief Executive Officer of Yongnam: ?These new contracts add to Yongnam?s strong track record in infrastructural and building projects. We are proud to see our name added to Singapore?s changing skyline, particularly for three of the most prestigious infrastructural projects developed here.
Our successive wins of contracts bear testimony to the Group?s excellence in delivering value-added engineering and steel construction solutions to our clients. With our proprietary modular strutting system boosting our strong competitive edge, we are well-placed to benefit from the huge investments in infrastructure in Singapore and the region.?
With a total investment of more than S$5 billion, the proposed Marina Bay Sands IR, expected to be completed by 2009, is one of the world?s largest investments for a single IR. Under the terms of the two sub-contracts, Yongnam will supply, fabricate, and erect structural steelworks for the IR?s Hotel Tower expected to be completed by 2nd half 2009; fabricate and deliver plunge-in columns for its North Podium by 1st quarter 2008.
The second project clinched by the Group was for the inaugural F1 event in Singapore, scheduled to be held around the Marina Bay area on 28 September 2008. Under the terms of the contract, Yongnam will supply, fabricate, and erect structural steelworks for the proposed construction of a 3-storey recreation cum commercial complex at Republic Boulevard.
Yongnam was also awarded the sub-contract for the Orchard Turn project. Work on the project had commenced and is expected to be completed by 2nd quarter 2008. Under the terms of the contract, Yongnam will supply, fabricate and erect approximately 10,000 MT of structural steel for the shopping mall and multi storey car park. Orchard Turn, comprising a one million square foot shopping mall and a 56-storey residential tower, is arguably the most famous junction in Singapore.
The Contracts are expected to have a favourable material impact on the earnings per share but they are not expected to have any material impact on the consolidated net tangible assets per share for the financial year ending 31 December 2007.
"NEWS RELEASE YONGNAM WINS S$90 MILLION CONTRACTS FOR PRESTIGIOUS MARINA BAY SANDS INTEGRATED RESORT, FORMULA ONE, AND ORCHARD TURN PROJECTS "
hot news
DJ MARKET TALK: Yongnam +2.7%; Middle East Deal Positive -Goldman
0248 GMT [Dow Jones] Yongnam Holdings (Y02.SG) +2.7% at S$0.375 following announcement of Middle East acquisition. Company is buying 49% stake in Aasia Steel Factory, part of Gulf conglomerate Rafid Group, for S$1.0 million. Goldman Sachs says investment is small, but important. "We view this acquisition as strategically positive for Yongnam in its international expansion and also unfolds further external growth beyond the current construction upcycle in Singapore," note says. MACD shows stock has slight negative momentum, rise on low volumes; upside capped at 10-day moving average of S$0.390. (KIG)
DJ MARKET TALK: Yongnam +2.7%; Middle East Deal Positive -Goldman
0248 GMT [Dow Jones] Yongnam Holdings (Y02.SG) +2.7% at S$0.375 following announcement of Middle East acquisition. Company is buying 49% stake in Aasia Steel Factory, part of Gulf conglomerate Rafid Group, for S$1.0 million. Goldman Sachs says investment is small, but important. "We view this acquisition as strategically positive for Yongnam in its international expansion and also unfolds further external growth beyond the current construction upcycle in Singapore," note says. MACD shows stock has slight negative momentum, rise on low volumes; upside capped at 10-day moving average of S$0.390. (KIG)
THE PROPOSED ACQUISITION BY THE COMPANY OF 49% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF AASIA STEEL FACTORY CO. LTD (AASIA) COMPRISING 2,450 SHARES (ACQUISITION) AS AN INTERESTED PERSON TRANSACTION
1. INTRODUCTION
The Board of Directors of the Company (Board) wishes to announce that the Company has, as of the date of this announcement, entered into a sale and purchase agreement (Agreement) with Yongnam Private Ltd (YPL) to acquire from YPL, 49% of the issued and paid-up share capital of Aasia, comprising 2,450 shares of par value SR 1,000 each (Sale Shares).
2. INFORMATION ON AASIA
Aasia was incorporated in Saudi Arabia on 27 November 2005 with the objective of carrying on the fabrication of beams, beams sectors, steel structures, steel pillars and columns. Since its date of incorporation, Aasia has not carried out any business transactions and is currently in the process of constructing a fabrication workshop on an approximately 5-hectare site in the industrial city of Jubail, located in the Eastern Province of Saudi Arabia. Aasia expects to be ready to conduct business and serve its clients from the second quarter of 2008.
The directors of Aasia are Mr. Tan Tin Nam, Mr. Abdul Aziz Abdul Al Mohsen Abdul Wuhab Al Mandil (Mr. Abdul), Mr. Adel Abdul Mohsen Abdul Wuhab Al Mandil, and Mr. Reyad Saad Nassar Al Nassar , and the shareholders of Aasia are as follows:
Registered Shareholders Number of Shares Percentage of shareholding (%)
Yongnam Private Limited 2,450,000 49%
Reyad Saad Nassar Al Nassar 550,000 11%
Abdul Aziz Abdul Al Mohsen Abdul Wuhab Al Mandil 1,000,000 20%
Adel Abdul Mohsen Abdul Wuhab Al Mandil 1,000,000 20%
3. RATIONALE AND BENEFITS OF THE ACQUISITION
The Directors believe that the Acquisition is beneficial to the Group as it marks a significant leap in the Group?s growth strategy overseas, particularly in the Middle East. The Directors are of the view that the completion of the Acquisition would, inter alia, allow the Company to:
(a) benefit from Aasia?s knowledge of the Saudi market as well as the rapidly growing Saudi economy by capitalising on Mr. Abdul, Mr. Adel Abdul Mohsen Abdul Wuhab Al Mandil, and Mr. Reyad Saad Nassar Al Nassar?s knowledge of the Saudi market;
(b) gain market access to the vast steel fabrication market in Saudi Arabia;
(c) enable the Group to achieve higher operational efficiency; and
(d) benefit from Mr. Abdul?s extensive network of business associates and government officials in Saudi Arabia.
4. THE ACQUISITION
In 2005, the Company was approached by Mr. Abdul to enter into a joint venture in Saudi Arabia. Due to the Company?s financial constraints at that time arising from the scheme of arrangement that had just been completed in 2004, the Board decided to decline the offer. The Company however, had no objections to YPL taking up the offer by Mr. Abdul.
Since then, the Company?s financial situation has improved. The Company has strengthened its capital base via two placement exercises during the first half of 2007, raising approximately S$57 million. In its financial statement for the year ended 31 December 2006, the Group announced an 84.8% increase in revenue from FY2005 to FY2006. In its half year financial statement for the period ended 30 June 2007, the Group announced a seven-fold net profit from S$2.7 million in its half year financial statement for the period ended 30 June 2006, to S$19 million for the same period this year. The Company has also succeeded in securing a number of projects in the Middle East. The Board is now of the view that acquiring Aasia from YPL will be beneficial to the Company.
Under the terms of the Agreement, the total consideration payable by the Company to YPL for the Sale Shares shall be the sum of approximately S$1,036,608 (the equivalent of SR 2,450,000), payable in cash (Consideration), and shall be funded through the Company?s own internal resources. The Consideration for the Sale Shares which was arrived at on a willing seller-willing buyer basis, is the aggregate of:
(a) S$443,120(1) being the actual cost in Singapore Dollars incurred by YPL in Singapore Dollars when it paid for its initial investment of SAR 1,000,000 on 30 January 2006;
(b) the aggregate of:
(i) the sum of S$211,355(1) being the actual cost in Singapore Dollars incurred by YPL in Singapore Dollars when it paid for its initial investment of SAR 500,000 on 20 June 2007; and
(ii) the sum of S$207,714.50(1) being the actual cost in Singapore Dollars incurred by YPL in Singapore Dollars when it paid for its initial investment of SAR 500,000 on 31 July 2007; and
(c) S$174,418.60 which is the Singapore Dollars equivalent of the remaining SAR 450,000 based on the exchange rate of S$1 : SAR 2.58 as at the date of this Agreement.
(1) These amounts include the relevant commissions and bank charges totalling S$120, S$120, and S$214.50 for the transfer of funds to Aasia on 30 January 2006, 20 June 2007 and 31 July 2007 respectively.
The amount SAR 450,000 referred to in paragraph 4(c) above represents part of YPL?s 49% share of the paid up capital in Aasia had been previously paid by Mr. Abdul on behalf of YPL. With the Acquisition, YPL will use the proceeds from the Sale Shares to repay Mr Abdul in full. The Company will be acquiring the Sale Shares from YPL effectively at YPL?s investment cost and YPL will therefore not be making a profit or loss arising from the Acquisition.
As part of the Acquisition and by way of novation, the Company will be assuming the rights and liabilities of YPL with regard to a facility agreement between YPL and Mr. Abdul dated 19 September 2007 whereby the parties have agreed to arrange for a bank facility through the personal sources of Mr Abdul for the sum of SAR 12,000,000 with the Saudi British Bank of Saudi Arabia (?SAAB?) including personal guarantees by Mr Abdul as was required by SAAB. It was then agreed between YPL and Mr Abdul that Mr Abdul will charge YPL the amount of interest incurred on the draw down of the bank facility from SAAB based on the bank?s market interest rate. Such interest charge will be deducted from YPL?s share of its income from the operations of Aasia. Such interest charge will continue until YPL provides its share of the bank guarantee of SAR 5,880,000 to SAAB for the bank facility amount and YPL had paid for its share to cover the remaining cost of works to bring Aasia?s factory into operation.
Completion of the Acquisition is conditional on, inter alia, the following conditions having been fulfilled or waived:
(a) the passing of a resolution by the shareholders of the Company at its extraordinary general meeting (EGM) approving the transactions contemplated by the Agreement;
(b) YPL and Aasia having obtained all necessary consents, approvals and waivers required under the Kingdom of Saudi Arabia (if any) for the sale and transfer of the Sale Shares to the Company, and such consents, approvals and waivers not having been amended or revoked before Completion, and if any such consents, approvals or waivers are subject to conditions, such conditions being acceptable to the Company; and
(c) written confirmation from the existing shareholders of Aasia that they have no objections to the sale of the Sale Shares by YPL to the Company.
The Acquisition has no material impact on the issued share capital of the Company as the Consideration shall be payable in cash. The Acquisition has no material effect on the NTA of the Group. In addition, the Acquisition has no material impact on the earnings of the Group as Aasia has not yet commenced business.
As the Acquisition has a value in excess of 5.0% of the Group?s latest audited NTA as at 31 December 2006, it is subject therefore to the approval of shareholders. Provenance Capital Pte. Ltd. has been appointed as the independent financial adviser (IFA) to advise and render an opinion to the independent Directors on whether the Acquisition is (i) on normal commercial terms; and/or (ii) prejudicial to the interests of the Company and its minority shareholders.
5. INTERESTS OF THE DIRECTORS AND SUBSTANTIAL SHAREHOLDERS OF THE COMPANY
As at the date of this announcement, YPL holds directly 64,329,432 shares representing approximately 5.3% of the issued and paid-up share capital of the Company. As Messrs Seow Soon Yong, Siau Sun King and Tan Tin Nam who are Directors of the Company respectively hold 50.0%, 25.0% and 25.0% of the issued share capital of YPL.
Under Chapter 9 of the SGX-ST Listing Manual (Listing Manual), Messrs Seow Soon Yong, Siau Sun King and Tan Tin Nam are deemed ?interested persons? and thus, the Acquisition is an interested person transaction subject to shareholders? approval, which the Company is seeking at the EGM. In addition, Mr. Seow Soon Hee as Mr. Seow Soon Yong?s brother is also deemed an interested person for the purposes of the Acquisition and shall, along with the aforementioned parties, accordingly abstain from voting on the ordinary resolution relating to the Acquisition to be proposed at the EGM, and from making any recommendation on the Acquisition to shareholders.
Save as disclosed, the Company is not aware of any of its other Directors or substantial shareholders having any interest, direct or indirect, in the Acquisition.
6. INSPECTION OF DOCUMENTS
A copy of the Agreement will be made available for inspection at the Company?s registered address of 51 Tuas South Street 5, Singapore 637644 during normal business hours for a period of three (3) months from the date of this announcement.
A circular to shareholders (Circular) containing relevant information relating to, inter alia, the Acquisition will be dispatched to the Company?s shareholders in due course.
The Company will be making periodic announcements relating to the above transactions contemplated under the Agreement and the Circular.
Pinnacle, ok 3 warrants, to be subscribe for 3 ordinary shares later. So excise price 0.25 + warrant 0.03 = 0.28 .. ?? yes ?? 
the warrant convert to mother share is confusing man, can anyone show a valid example, let say if you buy 50 lots @ 0.38, how's the calculation like?
oh shit, I see wrongly, as long as you buy before Nov 15, and keep until Nov 19, you are entitled, meaning last day to buy is on Nov 14.
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15:40:46
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0.380
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6,100,000
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Sell Down
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Ouch, that hurts.